Vestia will start sales process of a 1,065 unit healthcare portfolio in the Netherlands

27 July 2018

Northern Light Groningen

In the coming years, Vestia wants to make a greater contribution to the public housing task in its four core municipalities in the Rijnmond and Haaglanden regions. That is why the sale of a part of healthcare real estate in the province of Groningen will soon start. This concerns approximately 1,065 mostly regulated (care) dwellings. The dwellings are located in eight different municipalities. This concerns residential care, senior housing and sheltered housing. The tenants can continue to live in their home and the rental agreement remains the same. Capital Value will advise Vestia on the sale. 

Reasons for sale
Vestia is a Dutch housing association with assets in many municipalities spread throughout the country. In the future Vestia will concentrate on four core municipalities, namely The Hague, Rotterdam, Zoetermeer and Delft. That is why Vestia wants to sell the dwellings outside these municipalities. All parties involved were informed about the intended sale.

"For our tenants, the lease agreement with associated conditions remains the same. All rights and obligations are retained and the tenants can continue to live in their home'', says Arjan Schakenbos, chairman of the board of directors of Vestia. ''The sale of this (healthcare) portfolio contributes to the focus on our social task in the four core municipalities. There is an increasing demand for affordable housing, an enormous sustainability challenge and there are solid livability issues in the neighborhoods. In this way we can fulfill our mission 'satisfied tenants in an honest city, now and in the future'.''

About the porfolio
The complexes in the portfolio called 'Northern Light' are spread over eight different locations in the province of Groningen. The years of construction of the complexes are between 1966 and 2004. This mainly concerns care dwellings, senior housing and sheltered housing. Approximately 40% of the houses are independent dwellings.

Vestia expects to start the sales procedure in September 2018. The transfer is expected to take place in mid-2019. If you are interested in acquiring the portfolio? Please contact Capital Value for more information.

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